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Slipstream opens crowd-funding project to keep pro road team alive

The company behind the Cannondale-Drapac squad said it needs another $7 million to continue next year.

BOULDER, Colo. (BRAIN) — Slipstream Sports, the company that owns and manages the pro road team currently known as Cannondale-Drapac, has launched an Indiegogo crowd-funding campaign in a bid to continue racing in 2018.

Slipstream's Jonathan Vaughters told team members last week that the team was in danger of shutting down after a sponsor, who he hasn't named publicly, decided to end its support. Vaughters said Slipstream needs to raise an additional $7 million to race next year.

The Fairly Group, a Texas-based risk consulting firm, has pledged to match public donations up to $2 million.

Through an initial pledge webpage that went live this weekend, public supporters said they would contribute nearly $800,000. In the first few hours of the Indiegogo campaign, supporters committed to a bit over $100,000.

"The crowdfunding campaign serves a dual purpose," Vaughters said in an email to supporters Wednesday. "We're not only looking to bring in the funds necessary to keep this team alive but also to demonstrate to another sponsor that we have the most engaged and invested fans in the business."

Vaughters asked that supporters promote the #SaveArgyle campaign on social media, and he asked people with leads for corporate financial support to contact him at j.vaughters@slipstreamsports.com.